How to handle the loan for studying in Australia?

How to handle the loan for studying in Australia?

Go to the bank recognized by the Immigration Bureau first:

There are six financial institutions recognized by the Australian Immigration Bureau: Bank of China, Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, CITIC Industrial Bank and Shanghai Pudong Development Bank.

Two, in line with the basic conditions for studying abroad loans:

Generally speaking, there are a wide range of people who are suitable for applying for loans. According to the introduction of the relevant departments of the bank, the borrower who applies for studying abroad loan must be a China citizen with full capacity for civil conduct, have legal identity documents, provide the admission notice or admission notice of the school, and provide proof materials for the tuition and miscellaneous living expenses required by the school during the study period. It is also necessary to provide a third-party borrower (usually the borrower's parents) who is recognized by the lender as an asset mortgage, pledge or has compensatory ability and bears joint and several liabilities, and the borrower has paid a certain proportion of the expenses required by the educated. At the same time, it is also necessary to implement other loan conditions stipulated by the lender and provide relevant documents and materials for pledge.

Three. Student loan applicant:

Himself, spouse, parents, brothers and sisters, grandparents; Uncle/uncle, aunt/aunt (must be an Australian citizen, a permanent resident of Australia or a New Zealand citizen who has lived in Australia for a long time)

Four, the application steps (taking China People's Bank as an example):

Step 1: The applicant directly applies for a loan from the People's Bank of China;

Step 2: The bank reviews the loan. The bank lender shall give a reply within 7 working days after receiving the application materials of the borrower;

Step 3: If the bank agrees to the loan, the bank will inform the borrower of the agreed loan amount, term, interest rate and repayment plan;

Step 4: The bank signs loan contracts and guarantee contracts with borrowers and guarantors, and goes through relevant loan procedures. (Note: The loan term is generally one to six years, and the longest is not more than ten years. Loan amount: in principle, it shall not exceed 80% of the total tuition and fees and living expenses required by the educated during their study in school. The minimum is 1 10,000 yuan, and the maximum is not more than 500,000 yuan. )

Verb (abbreviation of verb) Note:

1. When submitting a visa application, you must provide three loan materials to the Immigration Bureau at the same time. They are: credit certificate of personal loan for studying abroad; Certificate of deposit; Loan contract;

2. The above three materials must be provided in Chinese and English. When some banks can't provide Chinese and English materials, they need NAATI qualified translators to be effective;

3. The loan term must cover the whole school year;

4. The Immigration Bureau doesn't care much about the repayment method. You can choose the most suitable repayment method according to your actual situation.

5. In the case of handling loans, proof of income is also very important.